Crude oil
Bakken crude reaches Louisiana refiners by barge
Kirby Corp. appears to be the first barge operator to use America's famed Mississippi River as a highway for oil from the land-locked Bakken, an oil-rich area in North Dakota. The barges take a week to travel down the Mississippi River to bring the oil to the Baton Rouge, La. area.
US safety board says lapses led to BP oil spill
The CSB said a "robust system of process safety indicators" may have revealed problems that led to the disaster, such as discordant safety controls between BP and Transocean.
Essar, Barclays reach crude oil supply deal for UK Stanlow refinery
Under the three-year deal announced Wednesday, Barclays has already started buying crude for the Stanlow refinery, the UK's second largest at 296,000 bpd. Barclays has also taken control of inventories of crude oil and refined products on the site worth $700 million, Essar said.
Valero shuts Meraux refinery in Louisiana after fire
The exchanger caught fire at about 1:30 a.m. local time on Sunday, according to a report filed with the US National Response Center. All units will remain down while repairs are made to the crude unit and related utilities. Valero did not give a timetable for repairs or a possible restart.
US oil, fuel demand falls amid weak economy - API
Gasoline demand tracked the overall numbers, declining 2.5% for June versus a year ago and 1.0% for the first six months of this year against the same period in 2011, the API said. Distillates, jet fuel, and residual fuel were also down for the first six months, while distillates and residual fuel were down for June.
Enbridge to spend up to $500mn more on Canada pipeline safety features
The company's plan to build an oil pipeline from Alberta to a port in Kitimat, British Columbia, for export overseas faces opposition within the province, including from native groups and environmental organizations. Northern Gateway would ship up to 525,000 bpd and is scheduled for a 2017 startup.
BP, Russian partners discuss stake sale in TNK-BP crude oil venture
The talks set up an end game for what has proved to be a highly profitable, but tempestuous BP adventure in Russia, one that could yet draw in other major players in the country's state-dominated energy sector.
Global refined oil product demand to lag supply over next two years - IEA
More than 1 million bpd of new refining capacity is likely to come online this year, and a further 1.3 million bpd in 2013, compared with 400,000 bpd in 2011. The additions to capacity will grossly outpace demand growth for oil products, which the IEA estimates will average 800,000 bpd this year.
Gunvor to raise $500mn credit for Belgian refinery crude oil, feedstock
The funds will be used to finance the purchase of crude oil and feedstock for the refinery. Cyprus-based Gunvor, one of the world's largest independent traders of commodities, bought the Antwerp refinery from insolvent Swiss-based refiner Petroplus Holdings AG earlier this year.
EIA lowers US price estimates for refined products, oil prices in 2012
The agency said retail gasoline prices would average $3.49/gal in 2012, down from $3.56 in the June estimate. The EIA said 2012 retail diesel prices are expected to average $3.79/gal, down from $3.90/gal. The EIA said heating oil would average $3.64/gal for 2012, down from the June estimate of $3.71/gal.
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